The Regional Relief and Recovery Fund (RRRF) is an interest-free loan for businesses and organizations impacted by the pandemic. The main goal of this program is to support operational funding needs and cash flow of businesses.
Eligibility Criteria:
- An incorporated business, co-operative, partnership or an Indigenous-owned business with 1 to 499 full-time employees;
- Located in Ontario;
- Facing funding pressures with fixed operating costs, as a result of the pandemic;
- Have applied to other Government of Canada relief measures for which they are eligible, as outlined in the program guidelines;
- Were operational prior to March 15, 2020;
- Are financially viable;
- Plan to continue to operate or resume operations; and
- Have an active business chequing/operating account.
Eligibility Cost:
Liquidity support for fixed operating costs to maintain regular operations where business revenues or cash flows have been affected by the COVID-19 pandemic. Such as:
- Capital lease payments for existing equipment and machinery;
- Salaries and benefits*(only if not eligible or supported by other available federal COVID-19 relief measures);
- Property taxes;
- Utilities;
- Bank charges and interest payments;
- Professional fees;
- Monthly insurance payments;
- Rent;
- Personal protective equipment / safety measures;
- Cleaning expenses; and
- One-time stabilization expenditures (including sanitary, distancing measures and/or one-off adaptation costs related to operating in the context of COVID-19).
Amount:
- Funding of $60,000 or less: Conditionally repayable contribution (interest-free loan)
- Funding up to $1,000,000: Unconditionally repayable contribution (interest-free loan)
Do you qualify for RRRF or other government funding programs and would like to submit your application ASAP?
Fill out Eligibility Check form at http://www.fgwinc.ca/
